The prime minister used the plight of young people unable to rely on the "bank of mum and dad" as a curtain-raiser for Labour's annual conference.

The Your First Home scheme will offer a government-backed loan of 20% of the purchase price – with a minimum deposit of 2.5%.

But how tough are things at the moment for young people who have left school and want to make their way in the world?

Chari, 19, from Hertfordshire, spent some of her childhood in care but has just started at university and has ambitions to qualify as a doctor of psychology.

The challenge at the moment is just getting through the next few years, she says.

"I receive universal credit and that's usually what I would use to pay for my housing in Hertfordshire, but they've cut it off this month because I'm moving to university and they think SFE [the student loan] will cover it.

"SFE is delayed, so I have no money this month whatsoever – I'm three days in and already I'm in debt."

She added: "I'm dipping into savings I had planned to afford a future for myself just to get by now.

"As a care leaver, you don't really get that chance to save money for your future or make future plans."

Chari believes her dream of a doctorate may have to be put on hold while she pursues a career – and a salary – in banking.

"It's heart-breaking," she said, adding: "I don't think somebody should have to choose financial stability over pursuing their dream."

Elliot, 18, is also from Hertfordshire and is living with their parents, but wants to move on.

"I've been looking for places because I'm in college and I plan on going to uni, but it's just that things keep rising and the bills keep getting more and more," they said.

"I don't think I've ever expected to be able to buy a house at all. It would be nice to own my own place, but will I actually earn enough to be able to?"

As they turn 19 within a couple of months, Elliot believes they will have to pay for their studies.

"It's about £1,500 to £2,000 just for the course and I've got to get there and back every day," they said.

"In the area that I live, one of the main things is if you don't have the education, you're probably not going to get out of the place.

"It's quite a low-income area. I would like to go to uni but I think 'can I afford it?'"

The government said the Your First Home scheme would "help tackle the deposit barrier for first-time buyers who would be unable to afford their first home otherwise, building on the government's existing work to help more young people and families onto the housing ladder".

The Conservatives warned that the policy could leave first-time buyers taking on more debt and risked "pushing up the price of new homes".

But the prime minister said it would aim to help those who did not have support from the "bank of mum and dad".

Burnham said: "Too many young people are struggling with the cost of housing, with many giving up hope of ever having a home to call their own.

"So we will step in to help more first-time buyers on to the housing ladder."

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